Suppose the Bureau of Labor Statistics Uses Ballpark Franks as the Hot

question 67

Multiple Choice

Suppose the Bureau of Labor Statistics uses Ballpark Franks as the hot dogs used when calculating the consumer price index. During 2012, Oscar Mayer aggressively reduces prices. Consumers respond by purchasing more Oscar Mayer and less Ballpark Franks. The 2012 CPI is likely to

• A)understate the average prices paid by businesses.
• B)neither understate nor overstate the average prices because some consumers will still buy Ballpark Franks.
• C)overstate the average prices paid by consumers.
• D)overstate the average prices paid by businesses.
• E)understate the average prices paid by consumers.

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Productivity Software

Software applications that enable users to produce documents, spreadsheets, presentations, and databases, aimed at improving work efficiency.

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A character encoding standard for electronic communication, representing text in computers and other devices.

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Software that is installed on your device’s internal storage.

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Software that’s developed for and customized to a specific industry’s needs (such as a wood inventory system for a sawmill) as opposed to software that’s useful across a range of industries (such as word processing software).